Topsail Wealth Management LLC Has $1.46 Million Position in Invesco QQQ (NASDAQ:QQQ)

Topsail Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,111 shares of the exchange traded fund's stock after acquiring an additional 478 shares during the period. Topsail Wealth Management LLC's holdings in Invesco QQQ were worth $1,459,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of QQQ. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ in the 1st quarter valued at about $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ in the 4th quarter valued at about $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock traded down $1.25 during mid-day trading on Friday, hitting $554.20. The stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,419,891. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.63. The firm has a fifty day simple moving average of $527.06 and a 200 day simple moving average of $505.74.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, June 23rd.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.